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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.10355 with take profit at 1.10594.
Bearish Preference:
Sell position is envisaged if price trades below 1.09654 with take profit at 1.09402.
Fundamentals:
No major fundamental
Comment:
European stock markets are expected to open marginally higher Friday, rebounding after the previous session’s sharp losses. At the same time, investors digest surging U.S. inflation, British growth data, and the continuing war in Ukraine. Financial markets expect the Bank of England to raise rates from 0.5% to their pre-pandemic level of 0.75% next week amid rising price pressures, and this rebound will largely cement those expectations.
Analysis: SCRUM Team
